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TransferGo Champions Frictionless ID Verification with SumSub and Veriff 

Key partnerships will support a seamless customer experience and deliver increased service reliability

TransferGo, one of the world’s fastest-growing money transfer companies, today announces a partnership with robust, end-to-end ID verification companies SumSub and Veriff.

Through SumSub and Veriff’s technology, TransferGo will be able to verify a customer’s identity and prevent any attempts by fraudulent individuals looking to register or use the service. The partnership will also reduce the amount of manual processing needed by TransferGo’s employees and support Know Your Customer (KYC) and Anti-Money Laundering (AML) checks from the initial sign-up process.

SumSub’s all-in-one customisable platform for ID verification will enable TransferGo to deliver a tailored money transfer experience, while its expertise in regulation will ensure TransferGo is compliant and secure across all regions. Similarly, Veriff’s technology will allow TransferGo to verify IDs using over 8,000 government issued documents and its Near Field Communication (NFC) scanning technology will mean migrants can easily scan and verify their ePassports with both iOS and Android devices.

“Our ambition to continue to improve the service and solutions we offer is rooted in our incessant focus on our customer. The culture of innovation and dedication to improving customer service makes SumSub and Veriff a great fit for us. As partners they will be critical in helping us deliver a best-in-class ID verification service that is secure, compliant and frictionless,” comments Milda Mačiulaitytė, Compliance Manager at TransferGo.  

Discussing the partnership announcement, Kaarel Kotkas, Founder of Veriff, says: “Having a fast and seamless identity verification process is essential in driving sign-ups and improving customer trust. Our NFC technology will mean TransferGo can reduce the time and manpower needed to verify a customer’s ID and ultimately support a frictionless service for many more customers. We’re delighted to add TransferGo to our customer roster and look forward to our partnership.”

“Our expertise in ID verification means we remove the heavy lifting needed to be compliant with KYC and AML procedures. Our friendly UX and totally customisable platform is also perfectly suited to a fast-growing company like TransferGo whose focus is always on customer innovation. We’re thrilled that we’ve been able to improve the service reliability for ID verification for TransferGo’s customers and we look forward to building a successful partnership together,” says Vyacheslav Zhouldev, Founder & CTO of SumSub. 

This announcement comes at a time of growth for TransferGo, with over 2 million users and follows a $10 million investment boost that will enable the business to expand its global footprint and continue to launch new services on its cross-border payments platform. TransferGo also recently received an EMI license extension from the Bank of Lithuania, allowing it to offer customers’ payment cards, e-wallets and other payment instruments requiring storage of funds.